First Mid Bancshares, Inc. (NASDAQ:FMBH) Receives $42.80 Average Price Target from Brokerages

Shares of First Mid Bancshares, Inc. (NASDAQ:FMBH) have received a consensus rating of “Buy” from the seven ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $42.80.

Several equities research analysts recently weighed in on FMBH shares. Zacks Research upgraded First Mid Bancshares from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of First Mid Bancshares in a report on Tuesday, December 9th. Finally, Piper Sandler dropped their price target on shares of First Mid Bancshares from $49.00 to $48.00 and set an “overweight” rating for the company in a research report on Monday, November 3rd.

First Mid Bancshares Trading Up 0.7%

Shares of FMBH opened at $42.28 on Friday. First Mid Bancshares has a fifty-two week low of $27.58 and a fifty-two week high of $42.49. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 11.58 and a beta of 0.93. The firm has a 50 day moving average price of $37.54 and a 200-day moving average price of $38.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.93 and a current ratio of 0.93.

First Mid Bancshares (NASDAQ:FMBH) last issued its earnings results on Thursday, October 30th. The bank reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. First Mid Bancshares had a net margin of 18.77% and a return on equity of 10.27%. The company had revenue of $89.27 million for the quarter, compared to analysts’ expectations of $65.60 million. As a group, equities research analysts forecast that First Mid Bancshares will post 3.61 earnings per share for the current year.

First Mid Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, November 14th. First Mid Bancshares’s dividend payout ratio is currently 27.40%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cozad Asset Management Inc. purchased a new stake in First Mid Bancshares in the 2nd quarter worth approximately $3,842,000. AQR Capital Management LLC increased its position in First Mid Bancshares by 256.9% during the 1st quarter. AQR Capital Management LLC now owns 105,648 shares of the bank’s stock valued at $3,687,000 after purchasing an additional 76,050 shares during the period. Valeo Financial Advisors LLC raised its holdings in First Mid Bancshares by 609.7% in the 2nd quarter. Valeo Financial Advisors LLC now owns 86,292 shares of the bank’s stock worth $3,235,000 after purchasing an additional 74,133 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in First Mid Bancshares by 63.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 161,024 shares of the bank’s stock worth $6,100,000 after purchasing an additional 62,404 shares in the last quarter. Finally, Tudor Investment Corp ET AL lifted its position in shares of First Mid Bancshares by 421.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 71,260 shares of the bank’s stock worth $2,699,000 after purchasing an additional 57,600 shares during the period. Institutional investors own 47.57% of the company’s stock.

First Mid Bancshares Company Profile

First Mid Bancshares, Inc, a financial holding company, provides community banking products and services to commercial, retail, and agricultural customers in the United States. It accepts various deposit products, such as demand deposits, savings accounts, money market deposits, and time deposits. The company’s loan products include commercial real estate, commercial and industrial, agricultural and agricultural real estate, residential real estate, and consumer loans, as well as construction and land development, 1-4 family residential properties, and multifamily residential properties loans; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.